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Deals & Dealmakers

ExchangeRight Fully Subscribes $91 Million, 24-Property Net-Leased Portfolio

ExchangeRight, one of the nation’s leaders in diversified real estate investments and strategies, has fully subscribed its $91 million Net-Leased Portfolio 51 DST offering of 24 properties across 13 states. The portfolio is structured to generate investor distributions starting at an annualized rate of 6.11 percent.

The properties span 324,353 square feet of retail space and are 100 percent occupied and feature such necessity-based tenants as Bank of America, Citizens Bank, Dollar General, Dollar Tree, Family Dollar, Fresenius Medical Care, Hy-Vee, O’Reilly’s, Sherwin-Williams, Tractor Supply Company, Verizon Wireless, Walgreens and WellMed. The total offering price was $91,180,000 and launched with a 5-year, fixed-rate interest-only financing at 3.56 percent.

“Offerings like this are the foundation of our continued success,” said Joshua Ungerecht, a managing partner at ExchangeRight. “We are pleased to continue serving the needs of investors, representatives and advisors with our strategy of acquiring and managing diversified portfolios of properties net-leased to recession-resilient tenants. We are honored to have the opportunity to help investors with their cash flow, tax deferral and wealth protection needs, and to provide attractive exit options through our aggregation strategy.”

ExchangeRight and its affiliates’ vertically integrated platform features more than $4.9 billion in assets under management, diversified across more than 1,100 properties, over 20 million square feet and throughout 46 states. More than 6,800 investors have trusted ExchangeRight to manage their capital. All of the company’s current and past offerings have met or exceeded targeted cash flow distributions to investors since the company’s founding. The past performance of ExchangeRight and its previous offerings does not guarantee future results.

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